Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.036%

Price spread now: Kalshi against Aster−0.078%51s7-day average −0.107% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$210.206% of the position

Long on Aster Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.174%−$17 on $10k

Price spread, last 7 days−0.033%−$3 · spread now −0.078%, 7d avg −0.107%

Together, before fees−0.206%+ Points / potential airdropAster: Stage 5 · farm board−$21 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Kalshi is 0.029% dearer against Aster than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.107%. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XAUUSD1	4,360.8	0.0004	pay 0.0002% / 4h	2h 34m	$70.2M	$293.2M	20x
Short	Kalshi KXGOLDPERP	4,357.4	0	get 0.0000% / 24h	12h 34m	$4.1M	$36.3M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Aster. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee AsterbpFee KalshibpOrdersPrice spread, now −0.078%Rate

Funding earned: −$0.8
Price spread: −0.078% → −0.107%: $2.92
Slippage, 4 orders: −$2.57
Fee Aster: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$18.46
Costs to cover: 0.206%
Break-even: never at this rate

Slippage from Aster: live order book, 5 min ago; Kalshi: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Aster live order book, 5 min ago	0.01 bp	4.0 bp −$4	4.8 bp −$48	16.6 bp −$1,662	doesn't fit
Sell Kalshi live order book, 5 min ago	0.12 bp	6.8 bp −$7	7.6 bp −$76	13.2 bp −$1,316	doesn't fit

XAU on 39 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff GOLD-PERP	0.0000%	1h	4,357	−0.087%	$33K	—	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,362.4	+0.035%	$263.1M	$409.0M	100x	as long as short
Kalshi KXGOLDPERPshort	0.0000%	24h	4,357.4	−0.078%	$4.1M	$36.3M	15x
SunX XAU-USDT	0.0000%	4h	4,363.9	+0.071%	$93K	$9.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,357.8	−0.070%	$270K	—	250x	as long as short
Aster XAUUSD1long	+0.0004%	4h	4,360.8	long leg	$70.2M	$293.2M	20x
Extended XAU-USD	+0.0032%	1h	4,357.4	−0.078%	$13.6M	$42.9M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.238%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,360.5	−0.007%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,394.1	+0.763%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XAU	+0.0048%	1h	4,358.3	−0.058%	$20.7M	$43.5M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,361.7	+0.021%	$20.1M	$40.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,357.3	−0.081%	$294.2M	$48.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,356	−0.111%	$14.9M	$57.9M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,358.1	−0.062%	$5.6M	$1.9M	20x	as long as short
Polymarket Perps GOLD-USD	+0.0059%	1h	4,359.6	−0.028%	$4.3M	$1.9M	20x	as long as short
Variational Omni XAU	+0.0069%	4h	4,356.5	−0.099%	$48.3M	$28.4M	—	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,354.9	−0.136%	$2.0M	$5.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0082%	8h	4,359.2	−0.038%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0084%	4h	4,350.2	−0.243%	$30.3M	$60.6M	50x	as long as short
MEXC XAU_USDT	+0.0086%	4h	4,360.4	−0.010%	$374.2M	$322.4M	1000x	as long as short
Binance XAUUSDT	+0.0088%	4h	4,361	+0.004%	$409.9M	$2.10B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,356	−0.110%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,352.6	−0.189%	$275K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,353.7	−0.163%	$26K	$14K	20x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,360.1	−0.017%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0121%	1h	4,355.1	−0.131%	$48K	$64K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,359.3	−0.035%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0136%	4h	4,357.5	−0.076%	$1.4M	$2.9M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0140%	1h	4,360	−0.019%	$235K	$662K	25x	as long as short
Bullet GOLD-USD	+0.0155%	1h	4,360.5	−0.007%	$59K	$83K	10x	as long as short
Bitget XAUUSDT	+0.0156%	4h	4,362	+0.027%	$69.4M	$109.8M	100x	as long as short
Bybit XAUUSDT	+0.0181%	4h	4,362.7	+0.042%	$84.2M	$143.8M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0227%	8h	4,362.7	+0.043%	$165.1M	$284.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,358	−0.065%	$594K	$141K	25x	as long as short
BloFin XAU-USDT	+0.0286%	4h	4,364.8	+0.091%	$15.5M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0349%	4h	4,361.3	+0.010%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,361	+0.004%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0518%	4h	4,365	+0.095%	$2.9M	$3.9M	75x	as long as short